ExodusPoint Capital Management LP Makes New $18.08 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• ExodusPoint Capital Management opened a new position in Travelers Companies, buying 62,341 shares valued at about $18.08 million in the fourth quarter.
• Travelers reported strong quarterly results, with earnings of $7.71 per share beating estimates and revenue of $11.92 billion topping forecasts, though revenue was still down 1.7% year over year.
• The company raised its quarterly dividend to $1.25 per share from $1.10, and analysts currently have a Hold consensus rating with an average price target of $309.07.

ExodusPoint Capital Management LP acquired a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 62,341 shares of the insurance provider's stock, valued at approximately $18,083,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Travelers Companies by 23.1% in the 4th quarter. Royal Bank of Canada now owns 982,554 shares of the insurance provider's stock worth $285,000,000 after buying an additional 184,225 shares in the last quarter. Magnetar Financial LLC grew its stake in shares of Travelers Companies by 4.7% in the 4th quarter. Magnetar Financial LLC now owns 5,497 shares of the insurance provider's stock worth $1,594,000 after buying an additional 246 shares in the last quarter. L2 Asset Management LLC grew its stake in shares of Travelers Companies by 6.3% in the 4th quarter. L2 Asset Management LLC now owns 1,110 shares of the insurance provider's stock worth $322,000 after buying an additional 66 shares in the last quarter. Cynosure Group LLC purchased a new position in shares of Travelers Companies in the 4th quarter worth $477,000. Finally, 71 West Capital Partners purchased a new position in shares of Travelers Companies in the 4th quarter worth $243,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

TRV stock opened at $307.78 on Wednesday. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $300.75 and a 200 day moving average price of $294.73. The stock has a market cap of $65.45 billion, a PE ratio of 9.16, a P/E/G ratio of 2.76 and a beta of 0.48.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 EPS. Equities research analysts anticipate that The Travelers Companies, Inc. will post 28 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a $1.25 dividend. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 annualized dividend and a yield of 1.6%. Travelers Companies's dividend payout ratio is presently 14.88%.

Analyst Ratings Changes

A number of equities analysts have commented on TRV shares. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a research note on Tuesday, May 26th. Barclays cut shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $331.00 to $295.00 in a research note on Friday. Bank of America dropped their price target on shares of Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Evercore reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Finally, BMO Capital Markets lifted their price target on shares of Travelers Companies from $297.00 to $314.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $309.07.

Insider Buying and Selling

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the completion of the sale, the insider directly owned 259,590 shares of the company's stock, valued at $80,639,037.60. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the business's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,573 shares of company stock worth $11,504,146 over the last 90 days. Corporate insiders own 1.39% of the company's stock.

Travelers Companies Company Profile

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.